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ETF Edge: Nearly half of BlackRock’s Russell 2500 ETF is its Russell 2000 ETF

This update corrects the day the iShares Russell 2500 ETF launched.

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A new exchange-traded fund from BlackRock’s iShares suit of funds launched this month. Its biggest holding by far? Another iShares fund.

The iShares Russell 2500 ETF SMMD, +1.44% made its debut on July 7 and tracks an index of 2,500 mid and small-capitalization companies, an index that is an expanded version of another one also operated by Russell, the Russell 2000 RUT, +0.22% . BlackRock also offers an ETF tracking that index, the iShares Russell 2000 ETF IWM, +0.17% and investors buying the new fund are in a sense getting both.

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